Agents receive a commission once the transaction goes through to settlement (closes) based on the home's selling price. At that point, the commission is earned. Historically, the listing agent and the buyer’s agent split the commission, but • As a seller, you can offer compensation to buyer agents. • You should consider doing this to make your listing more attractive to buyers. • Your agent will need to disclose to you and obtain your approval for any payment or offer of payment that a listing agent will make to another agent acting for buyers. • This disclosure must be made to you in writing before any payment or agreement to pay another agent acting for buyers and must specify the payment amount or rate. • If you approve an offer of compensation, there are changes to how it can be communicated—your agent cannot include it on an MLS. • Your agent can advertise your listing via off-MLS platforms such as social media, flyers, and websites. • As the seller, you can still offer buyer concessions on an MLS (for example, concessions for buyer closing costs). • Compensation for your agent remains entirely negotiable and is not set by law. If your agent is a REALTOR®, they must abide by the REALTOR® Code of Ethics and have clear and transparent discussions with you about compensation. • When you find an agent to work with, please ask questions about compensation and understand what services you are receiving. • Agents who are REALTORS® are here to help you navigate the home selling process and are ethically
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